GDX – Miners Coverage (Webinar Excerpt – May 24)
The recent uncertainty in the economy has many traders looking for alternative stock market sectors to “invest” in. While absolute safe havens during such volatile times may be very difficult to find, a substantial portion of investors appear to be convinced that precious metals mining stocks may be the best “flight to safety” sector. As Sid’s coverage of GDX (large cap precious metals mining stocks) from his May 24 weekly “Counts” webinar shows in the video below, traders may be mightily disappointed if they place too much long-term trust in this sector. While GDX and GDXJ may generally move higher into the spring of 2021 according to Hurst cycle analysis, the road to higher prices could be rocky, and might be best “traded” rather than “invested in”.
We cover dozens of items at ElliottWavePlus.com and offer Elliott Wave roadmaps & Hurst Cycle analysis on all of them. Just because the environment is difficult, it doesn’t mean that profitable trades, both to the long and short side aren’t out there for the picking.
Timing is everything! No system is perfect, but considering Sid’s Elliott Wave & Hurst Cycle analysis in conjunction with sentiment, divergences, and monitoring of delta volume can help traders decide when to get in and get out. Recent volatility in the market is leaving many people wondering what’s next. Our Elliot Wave road maps and momentum-based trade signals can aid in navigating these rough waters. As always, please check out our free resources at the site.
We offer a number of subscription levels. Some are mostly about future roadmaps based on a combination of Elliott Wave and Hurst Cycles, and others are based on automated algorithmic trade signals. Sid presents his Elliott wave counts, which include integrated Hurst cycle analysis on over one hundred trade-able items for subscribers (Basic Plan & up) every weekend. He sends out updates on the most popular of those items every Wednesday. Crypto and Premium Plan subscribers receive automated trade signals nightly, as described in prior blog posts. Sid’s unique approach is well worth considering, especially if you’ve never experienced wave labeling and associated Fibonacci price targets that are derived in harmony with independent Hurst cycle analysis. Here’s more info about subscribing.
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